The Making of Index Numbers: A Study of Their Varieties, Tests, and Reliability (Classic Reprint) - Tapa blanda
Sinopsis
Discover how to measure and compare price changes, wages, and purchasing power with index numbers.
This book explains the theory and practice behind the formulas that track economic values, showing how to test their accuracy and apply them in real data. Grounded in extensive calculations and historical data, the work guides readers from basic types of index numbers to the best methods for precision. It explains how to assess methods, how to test results, and why some formulas are more reliable than others. A central focus is on the ideal formula and how it can be used to clear up confusion in economics and measurement.
- Learn how different index numbers are built, weighted, and tested for accuracy.
- See how tests like the circular test and factor reversal help compare formulas.
- Understand how to handle real-world data for prices, wages, and purchasing power.
- Explore the role of weighting and method selection in producing dependable measures.
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Reseña del editor
Excerpt from The Making of Index Numbers: A Study of Their Varieties, Tests, and Reliability
In order to help resolve the questions remaining at issue, a large number of calculations have been made for this book in addition to the large number which had already been made. Any one who has not himself attempted a like task can scarcely realize the amount of time, labor, and expense involved. Some of the work must have been abandoned had not the Pollak Foundation for Economic Research come to the rescue.
The result has been a much more complete survey of possible formula than any hitherto attempted. Although, in a subject like this, absolute completeness is out of the question, since the number of possible formula is infinite, nevertheless, the whole field has been so mapped out as to leave no large gaps. The aim has been to settle decisively, if possible, the questions of how widely the various results reached by different possible methods diverge from each other, and why. Each of more than a hundred formula has been examined and calculated in four series. Each of these series has its mile to play in this study, even formula which are found, in the end, to have no practical use.
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This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Reseña del editor
THE MAKING OF INDEX NUMBERS CHAPTER I INTRODUCTION § 1. Objects of the Book For those who have'made any attempt to penetrate their mysteries, index numbers seem to have a perennial fascination. Because of recent upheavals of prices, the interest in this method of measuring such upheavals is rapidly spreading. During the last generation index numbers have gradually come into general use among economists, statisticians, and business men. The skepticism with which they were once regarded has steadily diminished. In 1896, in the Economic Journal, the Dutch economist, N. G. Pierson, after pointing out some apparently absurd results of index numbers, said: "The only possible conclusion seems to be that all attempts to calculate and represent average movements of prices, either by index numbers or otherwise, ought to be abandoned." No economist would today express such an extreme view. And yet there lingers a doubt as to the accuracy and reliability of index numbers as a means of measur
Table of Contents
TABLE OF CONTENTS; chapter PAGE; V Introduction 1; 1$ Six Types op Index Numbers Compared / 11; III) Four Methods of Weighting 1 43; IV) Two Great Reversal Tests 62; V Erratic, Biased, and Freakish Index Numbers; VI The Two Reversal Tests as Finders op Formulae 118; VII Rectifying Formulae by "Crossing" them 136 VIII Rectifying Formulae by Crossing their Weights 184; FX The Enlarged Series of Formula197; X What Simple Index Number is best?206; JXI What is the best Index Number? / 213; XII Comparing all the Index Numbers with the "Ideal/"; (Formula 353) 243; XIII The So-called Circular Test270; XIV Blending the Apparently Inconsistent Results 297; XV Speed of Calculation321; XVI Other Practical Considerations330; XVII Summary and Outlook350; Appendix I Notes to Text 371; Appendix II The Influence of Weighting ; 439; Appendix III An Index Number an Average of Ratios; Rather than a Ratio of Averages 451; xxii; TABLE OF
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The Making of Index Numbers: A Study of Their Varieties, Tests, and Reliability
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Paperback. Condición: New. Print on Demand. This book delves into the complex world of index numbers, a crucial tool for measuring economic phenomena like inflation, cost of living, and wage fluctuations. While seemingly straightforward, the construction of index numbers involves intricate choices and methodologies, each with its own strengths and weaknesses. Through meticulous analysis and calculations based on historical data, the author unveils the surprising inaccuracies of some commonly used formulas, while highlighting others with remarkable precision. This exploration clarifies the essential attributes of reliable index numbers and provides practical guidance for their efficient calculation. By demystifying the "fairness" of index numbers and exposing the hidden biases within different approaches, this book equips readers with the knowledge to critically evaluate these powerful economic indicators. Ultimately, it demonstrates how the careful construction and application of index numbers can replace guesswork with scientific measurement, paving the way for a deeper understanding of our economic world. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Nº de ref. del artículo: 9781440065248_0
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The Making of Index Numbers
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The Making of Index Numbers: A Study of Their Varieties, Tests, and Reliability (Classic Reprint)
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The Making of Index Numbers : A Study of Their Varieties, Tests, and Reliability (Classic Reprint)
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Forgotten Books Jul 2018, 2018
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